We have reached part 4 of the Medicare saga. Hans and Robby discuss important information and details about Medicare 10 for next year. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

Hans and Robby go over the need to know information for Medicare Part C for the upcoming year. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

Hans and Robby go over the need to know information for Medicare Part D for the upcoming year. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

Feeling lost when it comes to medicare? Be lost no longer as Finishing well presents, medicare 101 the map. It's a guide to show you the way. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

We take a close look at the insurance that allows you to stay in your own home. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

This week, Hans and Robby go over social security survivor benefits, and what all that entails. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

This week, we're talking the seventh worry, standard deductions on income taxes. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

We're talking Medicare without supplemental insurance this week. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

Avoid a long-drawn out process and learn how to bypass probate.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

Hans and Robby talk about charitable giving and how to map out a plan to maximize your donations.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. Find us on YouTube: Cardinal Advisors.

Hans and Robby go over the seven opportunities to level up your retirement plan.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby discuss Long Term Care Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Medicare enrollment comes with a lot of deadlines and timelines paired with penalties and taxes if you miss these. There is no reason to fear Medicare penalties, and we can assist to determine if your group coverage is creditable.     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby discuss Hidden Treasure. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Begin with the end in mind. Hans and Robby go over the difficult, but necessary topic of life insurance for retirees.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby discuss the Buckets of Income Strategy.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby discuss Hybrid Long Term Care.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby discuss Hybrid Long Term Care.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby discuss IRMAA, an added fee that surprises many retirees.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby talk about social security   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby talk about current tax brackets and retirement planning under these parameters.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby talk about estate transfer on demand.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby talk about income riders this week, and how they provide one of the only guarantees in making sure you don’t outlive your money.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

There are some IRAs that allow you to take out money tax-free, while others make you pay taxes when you make withdrawals. Hans goes over why you should consider looking into the tax-free IRAs and how they could help your family!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans goes over the emotional, physical, and financial consequences of long term care. We are on a mission to make sure everyone has a plan for long term care in place before they need it, not for you, but for your family.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Medicare Supplement Plan G is the most popular Supplement plan out there. Hans and Robby explain why!  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Hans and Robby go over the Social Security benefits for widows and widowers, and how these benefits might fall short in retirement.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Do you know what your “other income” is? Hans and Robby go over how your Social Security is taxed, and strategies you can put into place that could lower the taxes paid.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

People with bad pre-existing conditions are under the influence that they cannot get life insurance, and that’s just not true. Hans and Robby go over multiple life insurance policies that accept people with pretty severe pre-existing conditions.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans goes over client examples where using a CFP, or Certified Financial Planner, makes all the difference in their retirement, from being able to have more money to being able to retire early.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

At age 72, the government makes you start making distributions from your IRA and 401k. Hans goes over why you should think about required minimum withdrawals instead of required minimum distributions in your 50s and 60s.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Pre-existing conditions prevent many people from obtaining long term care insurance and specifically home health care insurance. Hans goes over solutions for consumers with pre-existing conditions, through age 89, who want to protect themselves against the high cost of bringing help into their home. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Every year, Medicare beneficiaries have the choice of 2 paths, and they can only pick one. Hans and Robby go over both paths, as well as the pros and cons.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby go over Social Security statements, how to get them and the information you can get from them. Hans even goes over his own personal statement!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Do you know your tax rate? How about your standard deduction? Hans explains taxes in 2021, especially for those age 65 and over!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans, Robby, and Tom dive into estate planning for second marriages today, especially for those who are bringing in children from their first marriage. They get into how life insurance can be a saving grace for those who find themselves in this situation!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Retirement is not a time to be worrying about your money and the market. Diversification is essential to making sure you don’t have to worry about outliving your money.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

The Secure Act made changes to your IRA contributions, especially at ages 70 and 71. If you are at these ages, or are coming up on them, you are going to want a plan in place for your retirement savings.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.   

Most clients who come to us saying they are self insured for long term care - but do you really know what this means? Hans goes over what being properly self insured for long term care actually entails!

At the beginning of every year, there is a Medicare Advantage Open Enrollment Period. Hans goes over what this period allows Medicare beneficiaries to do, as well as the 3 other periods!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.   

Almost every year, Social Security beneficiaries get an increase in their checks, called COLA, or the cost of living adjustment. Hans goes over how much that is for 2021 and why it matters to you!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans & Robby help us understand this sometimes confusing but very important topic.  Just another step in Finishing Well!

Hans and Robby discuss the two different types of life insurance, Term and Whole, and specially what type you should have in retirement. Hans goes over why you need life insurance in retirement as well!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans goes over annuities, specially 3 different types, and how they work for people in retirement. The biggest advantage is that annuities create a guaranteed income for you exactly when you need it.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby discuss QCDs, or Qualified Charitable Distributions. These distributions are a way to give your IRA money, tax free, to the charity of your choice. Find out all the advantages of QCDs this week on Finishing Well!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.   

Hans goes over the recent report released by the Department of Treasury about the status of long term care insurance in the United States. He explains what they found, what changes might be made, and what it means for you.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Medicare Annual Open Enrollment ends on December 7th. Hans goes over what you need to make sure you have done before then.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Hans and Robby discuss what exactly full retirement age means for your Social Security benefit.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans goes over state taxes, social security taxes, pension taxes, estate taxes, and IRA distribution taxes and how they can differ between the state you choose to retire in.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

  Hans and Robby go over the 4 documents you need for estate planning and why they are important!

Hans and Robby go over a specific long term care policy. They also discuss why long term care is so personal to both of them.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.   

Hans goes over what qualifies as “qualified money”, as well as explains the advantages of this. Then he tells Robby the story of a client he had any how he used his IRA in order to leave the legacy he wanted.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby go over all your options for where to receive long term care when you are older!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby go over the options you have this Medicare  Annual Enrollment season!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby go over why you need to prepare before signing up for Medicare, and what some of the pitfalls you might run into.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Hans and Robby go over why you need a tax preparer, like a CPA, and a tax planner, like a financial planner and what the differences are between the two.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.   

Hans and Robby explain the halo of life insurance, which is a list of 5 people who cannot touch the money given to your beneficiaries.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby talk all about MYGAs, what they are, and why they might be right for you, especially if you have a lot of money just sitting in your savings account! Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Hans and Robby break down a specific insurance policy on today’s show. This policy allows you to rollover your IRA money into a policy that will not only provide your family a benefit at your death but also provide long term care benefits for you and your spouse.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Robby and Hans talk all about planning for retirement this week, especially as the world around us is changing.  Almost everyone wants to age at home, but in order to do this, you have to have a plan. Otherwise, it is very unlikely that you will be able to finish your life at your home.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Medicare with no extra coverage is a problem. One option you have for fixing this problem is a Medicare Advantage plan. Hans goes over what you need to consider when looking at these Part C plans.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby go over questions Cardinal has gotten about Social Security Spousal benefits, including common law marriages, divorcees, widows, and everything in between! If you have any questions about your specific situation, feel free to contact Hans and Cardinal for answers!  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

There are 3 tax benefits you are going to get out of having a Roth IRA in retirement. Hans goes over what these are, as well as what you can do right now, no matter your age, to make sure your IRA and 401k accounts are in a good spot.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

 In retirement, if one spouse passes away, how do you keep the surviving spouse’s income whole? Hans and Robby answer this question and go over how life insurance for the surviving spouse can fill the gap in your retirement income plan.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

No matter who you are, you need a minimum of $25,000 in life insurance when you die. We know most people don’t think they need it, but Hans goes over the many reasons why it is necessary.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

The purpose of your IRA should be to create retirement income. For many, they view it as a vehicle to leave an inheritance to their children. Hans goes over why this might not be a good idea and examples of what you could do instead!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!

Hans goes over your options for paying for home health care even if you have some health issues and limited income. The most important aspect of getting set up for long term care is purchasing it while you are in your 50’s or early 60’s.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Many people think Medicare will pay for home health care, but it really does not. Hans goes over what exactly Medicare covers and what other options you have for covering long term care costs!  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

This week, Hans goes over the 2020 Social Security Trustees Report. Many people think Social Security is going to run out of money, but after reading the entire report, Hans explains that this might not be true.  There is a lot of misinformation about Social Security; It is important not to base your decisions off of this. Social Security makes up a huge part of your retirement plan, so make sure you know the facts before making a decision.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Are you thinking about selling your house in retirement and worried about the taxes? Hans and Robby go over capital gains taxes as well as the exemptions to these taxes! They also talk about reverse mortgages and who it might be right for.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on Cardinal Guide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Hans and Robby go over Revocable Living Trusts, who they are good for and who they are not on this week's episode of Finishing Well!    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

Everyone is going to deal with risk regarding money, but you need to make sure it is the appropriate risk for you. Hans goes over the different types of risk, what affects risk, as well as realistic scenarios of gains and losses that might influence your risk.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

The government has given you some help with your IRA. Not only are you allowed to take some money out without penalty if you have been financially hurt by Coronavirus, but you can also leave money in your IRA for longer without penalty. Hans walks through who these new provisions might work well for and who might want to not take advantage of this relief. Remember, Cardinal and Hans are here to help anyone who needs it at this time!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

You don’t want to buy or can’t afford to buy a traditional long term care insurance policy but you still want coverage? Hans goes over your options for short term care, and how some policies even pay for care at your home. Having a year of coverage is much better than having no coverage at all. It gives your family time to figure out a long term plan.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

The industry makes the basics of Medicare too confusing and is not doing a good job of getting information to consumers, so Hans breaks down Medicare Part A and Medicare Part B for you. What do both Part A and Part B cover, what don’t they cover, and why you need a supplement to both parts is all covered in this episode!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

An annuity is equal or increased payments over a period of time. Social Security is a lifetime annuity for you. Hans and Robby explain what this means, how to use it, and what you might want to consider for your other income.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

With the recently passed tax law, the government created a 5 year window of the lowest taxes in over 40 years. So how do you make the most of this window? Hans and Robby go over some strategies to maximize your money and lose less to taxes! Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Who is your beneficiary? Hans and Robby want to help you answer that question and make sure you have the right answer. Don’t let your money go to the wrong person.   How much does my beneficiary need? Don’t underestimate this.   Am I too old to buy life insurance? No, you’re not. Hans goes over multiple clients' stories where life insurance was a great investment for them in their 70’s. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

We know Medicare Supplements can be confusing, there is a lot of chaos. Hans and Robby break down Medicare and its paths, advantage or supplements. Medicare supplements give the freedom of no networks. We discuss 3 different Medicare Supplement Plans, including one high-deductible plan that is perfect for people who want freedom but don’t want to pay a higher price.     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

This week, Robby and Hans discuss how to make sure you have a plan for finishing well, specifically one that includes home health care. They get into the details of different routes and policies, including the policy that Robby is currently getting. There is peace of mind that comes with having this planned out now, not only for you, but for your family.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

A lot of people don’t know what to do right now especially when it comes to their IRA or 401(k). Hans and Robby go over what you should be looking at in your accounts, not only during recessions, but all the time. Make sure you are checking your beneficiaries as well as your balance. Also remember it is important to understand the taxes on these accounts before you make any withdrawals or adjustments. Don’t make any rash decisions.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Currently, the market is crashing. Hans and Robby go over what you should and shouldn’t do during this time. The first thing to do is make a plan and understand how you want to use your money in retirement.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

You have 96 months to claim your Social Security check, from age 62 to age 70. Every month is a choice, but which is the best depends on your personal situation. Hans talks about clients who decide when to take their check based on what they have read or heard from friends or family. The best advice he can give is to get your Social Security statement on SSA.gov and look at your projected benefit. Hans talks about reasons to start your benefit early as well as reasons to start it late. Make sure to consider your spouse and their benefit as well.  Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com. 

This week, Hans and Robby discuss plans coming together, specifically, how having a plan for your income in retirement can reduce the tax you pay on your Social Security benefit. While only 13 states charge income tax on Social Security, the federal government will charge everyone who falls into their set threshold. Hans goes over these thresholds. If all you have to live off of is Social Security, you won’t pay taxes. It is when you throw other income in there that it can be complicated.     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

A lot of people have a bias against life insurance, but as Hans says, you need to look at the actual facts. Hans and Robby go over term vs whole life insurance and the myths surrounding both of these. They also discuss hybrid long term care insurance and the living benefits that come with it. There are even living benefits to whole life insurance, if you utilize it right, that will provide tax-free income in retirement. Life insurance can be abused, but that is not a reason to be scared of it.     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

The number one worry retirees face is outliving their money. Hans and Robby go through 2 examples of clients who faced this fear, one who did it early and one who did it late. While it is scary to face this fear head on, it is only going to benefit you the earlier you start the process of planning. While annuities get a bad rap, Hans goes through how, with the right plan and policy, annuities can give you a guarantee that you cannot outlive your money.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

When you retire, your life goes through a huge season of change, especially when it comes to your finances. The recently passed Secure Act adjusted how this season can go for you and your income. The most notable adjustment comes to RMDs, or Required Minimum Distributions, for IRAs and 401(k)s. The required start age for these has now been pushed back to 72 from 70 ½ . While this could be considered a “tax break” by some, it is really important to look at this from a larger standpoint, including how you want to   pay taxes and leave money for your family. Hans talks about why it is important to look at not waiting until 72 to start taking money from your retirement accounts!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Home health care is the most popular choice when asking people how they would prefer to receive long term care services. It can also be one of the most expensive choices. Hans and Robby talk about what you can do now to plan for this cost as well as how Hans helps people who don’t plan ahead of time and are now in crisis. They go over prices of policies you can purchase to cover home health care as well as other ways you can prepare for this expense. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

IRMAA, or Income Related Monthly Adjustment Amount, is a Medicare tax on the wealthy.   IRMAA is a surcharge on Part B and Part D. It is based on your income from your tax returns 2 years prior, so in 2020 that is 2018’s tax return. Hans talks about clients he has had, that are normally surprised and angry about the charge. While some clients income has changed dramatically in 2 years, and therefore are able to appeal the charges, others just have a significant income in retirement. If that is the case, while it does not make sense to do your financial planning totally based on reducing IRMAA, there are smart strategies you can put into place to reduce your taxable income in retirement. Hans and Robby explore all those options!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Robby and Hans talk all about Social Security spousal benefits this week! If you have ever been married or will ever be married, spousal benefits will really matter in retirement, especially for your family. Hans goes over all the misconceptions that people have about spousal benefits, such as benefits for divorcees and widows, benefit amount for spouses, and what is the right age to take your check!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

It’s 2020 and it is time to have a straight talk on taxes! Retirement changes taxes, that is a fact. Once you have different income sources, such as IRAs and Social Security, taxes are going to look really different. You are now in control of your income, at least part of it, and you need a plan.   Hans and Robby go over tax charts for 2020 and what they mean for you. One of the biggest suggestions Hans gives is to not be scared to pay a little more taxes now to live tax free in the future. Want to know why? Make sure you listen to the entire episode!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

The Secure Act was passed in Congress at the end of 2019. It changed a few things related to retirement, including Stretch IRAs. Stretch IRAs now have to be emptied after 10 years. Hans and Robby go through what this means, how it affects you, and even strategies to put into place so you can avoid ever worrying about this! It is all for your family.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

The SECURE Act was recently passed, making big changes to your IRAs and 401ks. Hans talks about what was changed, how this will affect you, and what you need to do. Important note: The SECURE act really does not have any affect on your Roth IRAs. If you have more questions about all of this, please reach out to us, we would be happy to go through everything with you!     Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.    

Butt Dust? We know it sounds weird, but as always, Robby explains not only how this is relevant to scripture but how it is relevant to money, specifically IRAs! Hans talks about everything he learned at his tax conference recently that focused on how to maximize your use of IRAs, especially traditional vs. Roth IRAs.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.    

Did you know Social Security can be taxed? Robby didn’t! Hans and Robby talk all about taxes, Social Security, and what you can do to either stop or lower these taxes.     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

This week, Hans, Robby, and guest Tom Griffith, CFP, talk all about the objections people give when discussing long term care. It is so important that you have a plan for it, no matter how rich or poor you are, no matter how healthy or sick you are, and no matter how much you think your kids will step in to take care of you.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Hans and Robbys discuss income tax for people who are retired this week on Finishing Well! Have questions? Please reach out - we would love to answer them on the show! Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Ever meet someone who has so much knowledge that they end up sounding like a windbag? Hans and Robby discuss how some consumer activists in the financial industry talk about life insurance and what they get wrong this week on Finishing Well. Life insurance sometimes gets a bad rap - it is too expensive, or a bad investment, or you don’t need it once you retire. Hans goes over where he agrees with these people, like about term insurance, and where he disagrees. People need life insurance in retirement. What is your family going to do when you die? This life insurance money provides immediate cash when needed most - and it is tax free!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Jesus was all about the fundamentals, as Robby shares on this week's show.   Hans is all about the fundamentals too, especially with Medicare. Consumers cannot really understand Medicare and what their coverage is until they understand the basics! Learn all about the parts, plans, and premiums of Medicare on this weekend episode of Finishing Well! We even talk about 2020 changes!     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Trust. It is one of the most important qualities a financial advisor can have. Robby talks to Hans about gaining this trust in his clients and what he does differently. Hans stresses that you have to find a financial advisor that is focused on more than investing your money, especially when you are in or near retirement, and is looking at the big picture. Retirement plans are different for every single person, and at Cardinal, our biggest focus is the income your money can produce and the longevity of it, more than the actual returns. We want to make sure that you have enough money to live comfortably throughout your retirement, no matter how long that is.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Everyone’s IRA is different, but yet they are still taking advice and facts from their friends and family. Hans and Robby address this issue as well as all the options you have for making the most of your IRA, by lowering your taxable income, not receiving penalties, and handling required minimum distributions.     First up is penalties for required minimum distributions. Some people have this idea that they never want to pay taxes so they are not going to touch their IRA. This is a mistake, as not taking out distributions after 70 ½ is going to land you with a huge penalty - 50% of the amount that   you were supposed to take out.     Are there any ways to avoid this penalty? The answer is yes! First up would be a roth conversion.   Most people’s IRA’s are traditional IRA’s, where you are putting tax-deferred money into the account and pay taxes when it comes out.   With Roths, you put taxes money in so your distributions are tax-free. This means you have no required amount that you have to take out. You can also leave this money to your heirs tax-free. They are so many other major advantages that Hans and Robby discuss!   QCD’s are also a way to get around required minimum distributions while also donating to charity!     Lastly, Hans and Robby discuss the question “ Do I have enough money to retire?”   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

This week, Hans and Robby discuss foundational beliefs that are inaccurate. This happens in faith all the time, but it also happens with Social Security beliefs. Some people think you have to take it as early as you can, some think you have to delay it as late as you can. Do not make decisions with limited information from one or two people. Age relative to your needs, health, and your spouse, are really going to be the key to Social Security timing.     Hans and Robby get into the false Social Security beliefs people have told them over their life. They answer questions that include: When am I supposed to take my Social Security check? Can I take Social Security early if I am disabled? How does this affect my spouse? Should I take my Social Security early? Should I delay my Social Security? How do Medicare and Social Security work together? How does income planning and Social Security work together? Will Social Security pay my long term care bills?   How do Social Security spousal benefits work? Does my wife get my check?   Do I need life insurance if I have Social Security?   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

If you look up the word “Love” and “Father” in Hebrew you’ll notice the Hebrew symbol for “household” in the middle of each. This week, Hans and Robby talk about the love and stewardship behind long-term care for the sake of your household.   Robby talks about a woman who told him about her mother’s declining health. Originally, she was going to have to take off work to take care of her mother. A few months ago, she was able to hire someone to help take care of her mother and it was a game-changer. She said she was able to have a healthy relationship with her mom again and both of their situations were so much better. 70% of couples over 65 will need some sort of long-term care option. Robby says if his friend’s mother had known the sacrifices that would be made to take care of her, she likely would’ve been interested in a long-term care policy before her health worsened.   This woman ended up using a short-term care policy she had bought a few years ago. The policy cost a little over $100 a month and resulted in her receiving $700/week to cover her daughter’s expenses and 52 weeks of care.   Robby talks about how many people fall and hurt themselves, including his relatives, as they get older. When this happens, they need significant time to heal. Medicare only pays for rehab a certain number of days which has put many of Robby’s friends in bad financial situations. Hans says 90% of people are without long-term care options and don’t realize they need it until it’s too late. Recently, he helped a couple use IRA money to offset expensive ALS care cost and also helped them purchase a life insurance policy for after he dies. Hans reassures listeners that if you’re in poor health and without long-term care insurance, there are other ways he can help.   Hans says most people buy long-term care insurance because they love their family and don’t want the burden of care to fall on their loved ones. Long-term care insurance can cover the expenses of a caretaker, and custodial care such as bathing, feeding, and dressing. This allows you to be there for the important part: your family’s emotional needs. Additionally, it releases your children for the guilt and shame many feel for not being able to adequately provide care for their parents by themselves.   Up next, Hans addresses some resources you can use to start tackling long-term care decisions. Hans wrote a workbook to put facts and figures in front of the reader and walk you through illustrations to demonstrate 10 or 12 policy options. These policies can cover everything from home health care and institutional care to providing indemnities (i.e. sending weekly checks to cover care needs, no receipts required). By meeting certain basic care or cognitive imperative conditions, you will qualify for your care benefits and simply receive the money to assist with care options. Hans wants listeners to know that they can get his book explaining these options a lot of different ways; by sending him an email, downloading the chapters from cardinalguide.com, or buying them from Amazon.   Hans then talks about hybrid policies, which are the merging of life insurance and long-term care options. These appeals to people who are afraid that they will pay into a long-term care policy and then die before receiving any money. Hybrid policies allow people to receive a tax-free death benefit early while still alive. Additionally, if never use your policy then your heirs will get the money you put in when you die. If you do use your long-term care options, then you can draw money from your hybrid policy for 4 years and your heirs will still get a small amount of money when you die. There are various ways to buy hybrids with single premiums and you can always customize them to meet your financial needs.   Robby quotes his old boss, saying: “If you think education is expensive, try ignorance.” Hans says this is relevant to the long-term care discussion because even though the insurance seems expensive to many now, it’s far cheaper than covering huge care expenses later on without insurance. Hans says insurance options can be purchased affordably by utilizing IRAs or moving similar assets around to help supplement costs. Long-term care is just a piece of a compressive retirement and financial plan, but to Hans, it’s the service he takes the most pride in because it helps his clients protect their families.   Learn more at CardinalGuide.com or call 919-535-8261. Hans can be reached at Hans@CardinalGuide.com.

Medicare Annual Open Enrollment is upon us and Hans and Robby dig into what you really need to know to come out with the best outcome. This season can bring a lot of confusion for Medicare enrollees. If you don’t have a good picture of where you currently are in Medicare, it is only going to make it harder. Find out how to identify what   plan you are on and what you need to do before December 7th!     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

You cannot hide from taxes, they will catch up with you eventually. Some people push it off and decide they don’t want to pay them until later, or even pass them onto their children. If you take taxes head on, ask for advice, and put strategies into action for you individual situation, it can end up saving you money in the long run.   Hans and Robby start out talking about how low the tax rates currently are. Hans suggests for many of his clients that it is advantageous to pay more tax this year to pay less taxes in the future. A Roth IRA conversion is one way to do this. Hans has recently acquired a number of CPAs as clients.Hans has helped them do pretty advanced tax planning strategies, even though they are the tax expert. This includes strategies for Medicare tax, or IRMAA, and Social Security tax planning.   Taxes also come into play with long term care. Hans has a client who is a   CPA and was recently diagnosed with ALS. How is he going to pay for the care he is going to need? Hans goes over the strategy they devised, including the use of   IRAs, life insurance, and tax planning.   Lastly, Hans and Robby discuss QCDs, and how you can make charitable contributions to your Church tax-free.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!

Life insurance. Everyone knows it provides great security to your family when you pass, but what many people don’t realize is that is can also provide great benefits while are living. Certain life insurance products and strategies allow you to take care of your family in life and in death. On this show, Hans and Robby go over the technical aspects of using life insurance for more than just a death benefit.     One of the purposes of “Finishing Well” is to teach, but we need to know what motivates you to look into life insurance to teach you about it properly. For some people, it is the peace of mind knowing their family will be okay when they pass. For others, the tax benefits, savings benefits, and retirement benefits motivate them to use life insurance as a product to expand their wealth. Hans tells a story about a client who was motivated by these reasons to get a hybrid long term care policy. The story ends with this client passing and having a huge benefit for his family, but it also led to Hans learning how to better educate clients on life insurance.     Hans and Robby go even further into hybrid long term care insurance products, specifically one that allows you to fund a life insurance death benefit with money from an IRA. This product also allows you to use the death benefit during your lifetime for long term care expenses tax free.     Hans understands that most people do not love insurance companies, but he also sees the good they provide. When you can find someone who represents enough companies that they can put your best interests first, you will end up with a much better outcome.     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

This week on “Finishing Well”, Hans and Robby talk all about money: Is Your Money Serving You or Are You Serving Your Money? Hans and Robby go over a few stories of clients and how they made their money serve them, specifically with annuities. Hans explains a lot of people us annuities in the wrong way, as savings accounts instead of income. There is a lot of fear that comes with making your money last for the rest of your life, and we want to help you stop worrying about it!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

This week, Hans and Robby take the show on the road. Hans is in Dallas at the Ed Slott Elite Advisor group for voluntary learning about everything IRAs! Learn about all the new updates to IRAs as well as taxes, distributions, and beneficiary forms!     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

We are about to see a ton of ads during the Medicare Annual Enrollment Period, but what really is the reason for the season?   The season, which runs from October 15th through December 7th, is really a time to look at Part D Prescription Drug plans as well as Part C Medicare Advantage plans. Hans and Robby go over everything you need to know before the season begins! Medicare Annual Enrollment allows Medicare beneficiaries to change their coverage to, hopefully, make it work better for them through the next year. Part D Prescription Drug Plans can and, a lot of the time, should be changed every year due to the fact that companies change their formularies every year. Part C Medicare Advantage plans can also be changed during this season. You can switch from one Advantage plan to another. You can switch from a Supplement to an Advantage plan or you can switch from an Advantage plan to a Medicare Supplement. A lot of changing going on! The issues during Medicare Annual Enrollment arises when beneficiaries do not understand what they are getting into. Many are led astray by advertisements or agents who are not independent, and then they are stuck with a plan that does not work for them for a whole year. Hans wants everyone to make sure they understand what advantage plans are and what the disadvantages can be.   How does Medicare Annual Enrollment   differ from Initial Enrollment or Open Enrollment? Hans and Robby go over all the differences. Hans also stresses that Medicare Supplements can be shopped year round, not just during this Annual Enrollment Period. It is so important that you look into your Medicare Supplement every year or two to make sure you have the best and most affordable one on the market. Hans and Robby both tell stories of clients and family members who needed help with Medicare and what Cardinal was able to do. Medicare is a season of life, along with Social Security and Retirement. Robby suggests praying and figuring out how to advance the kingdom of God with the decisions that you make during Medicare season!     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Americans are leaving millions of dollars on the table by taking Social Security early. On the Sermon on the Mount, Jesus says “But small is the gate and narrow the road that leads to life, and only a few find it.” 10% of Americans are actually finding the narrow gate of Social Security and taking it at the right time to maximize the benefit. Learn how to make the right Social Security timing decision with Hans and Robby!   When first deciding when to take your Social Security, Hans and Robby both have ideas about where to start. Hans says first to get your Social Security statement from SSA.gov. It will give you information about where you stand currently. Robby says to start in prayer to get direction on what you should do. Robby hopes this prayer ends in pointing you towards getting professional help if you decide you do not have the time or the expertise to put toward making the decision yourself.   Many people make decisions based on what their friends or family do, which Hans points out is never smart because they do not have the same earnings record or financial situation that you do. A lot of people take it early because they just want the money, some people go to the other extreme and wait until the last possible minute.   There are 96 months that you can elect Social Security, and if you have already chosen to elect, it is not too late to change your decision. Hans tells a story about clients who have elected and then realized that they did it too early. The Social Security Administration will actually let you undo your election within a year, but you do have to pay back all the benefits you have already received.   There are a lot of rumors that Social Security is going away. People use this to justify spontaneous decisions about their Social Security. The government is in the process of addressing people’s fear about Social Security, but nothing is set in stone. Hans explains why it is not worth it to worry about this when making your Social Security elections.    Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Paul, on the road to Damascus, was struck blind and Jesus said to him, "Why do you kick against the Goad?" Kicking against the goad causes pain. It is meant to train for discipline; you learn to not kick against it. Hans is a goad for retirement planning (especially for Robby). You have to stop pushing off these issues, and instead develop some discipline around getting your finances in order to finish well. The largest goad people kick against in this instance is long term care insurance.     Before you need long term care insurance, you need a plan for long term care. The insurance is not the plan, it just makes the plan possible. What you really need is a plan for your family, because they are going to be caregivers, and they need the funding for your long term care plan.     Medicare does not pay for long term care. As Robby brings up, they might pay a small amount, but not the large bulk of it. If you just need assistance with some of the Activities of Daily Living (Bathing, Dressing, Contince), which is what most people need toward the end of their life, Medicare will not pay for this, but long term care insurance will.     Robby and Hans discuss both of their experiences trying to take care of their parents. It is much harder than most people think. Robby talks about one time he had to lift his father out of bed and it was almost impossible. He needed help.     Hans talks about some clients that he has, who after initially using Cardinal for Medicare supplements, ended up using Cardinal for a plan for long term care. They really did not want to talk about it, but 6 years after meeting Cardinal, they decided that long term care insurance was something they needed, but only after developing some health issues since their first meeting. This made it much more complicated and expensive, but Cardinal was still able to get them issued. All this really developed from them kicking against the goad of long term care and not being trained to stop for many years. Robby talks about his own situation. He does not have long term care insurance, or a plan for it. He wants the good feeling that comes from having everything taken care of. He is thinking about hybrid long term care insurance, so if he doesn't end up using the long term care benefit, his family gets a large lump of money when he passes.     We want to help you figure out how to get long term care into your plan to finish well. Long term care is so important to have a plan for, and most people don't. If this is your goad, let us help you.     Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Isaiah 11:1-3 says the seven anointings of the Holy Spirit are wisdom, understanding, council, might, knowledge, fear of the Lord, delight in the fear of the Lord. Robbie believes Hans reflects these virtues through his dedication to advising his clients well by staying up-to-date on the retirement industry and adhering to Christian standards. This week, Hans and Robbie want to keep listeners up-to-date with the SECURE Act and how it will change taxes in retirement.   Before continuing, Hans asks listeners to take a moment and pray for Tom Griffith, one of Cardinal's advisors and a regular guest on the show. Tom's in the hospital this week treating a relapsing health issue. Cardinal appreciates all thoughts and prayers on behalf of Tom and his family.   The SECURE Act has passed the House and is currently stalled in the Senate. Hans suspects it will pass and the President will sign it this fall. The SECURE Act simplifies retirement planning particularly for people planning on working past the retirement age and moves the minimum distribution age up. It changes how inherited IRAs are withdrawn from and limits stretching to 10 years. This change is not necessarily good or bad, the goal is to plan around it so the change isn't detrimental to you or your estate.   Another act being discussed is the Social Security 2100 Act. Hans says that he thinks there's less of a chance it will pass, but will monitor this and all new acts that could implicate retirement changes and will factor them into planning.   Next, Hans says there's a new tax law that changes the standard deduction to about $26,000 for married couples and $14,000 for individuals. For people in retirement, this might affect how you think about your mortgage. House interest won't be deductible because of the $26,000 or $14,000 that qualifies for deductible anyways, so it's smart to pay off your mortgage and own your house to get that extra income.   Hans will wait until 70 to start his Social Security to make his check as big as possible and his goal is to pay zero taxes on it. He wants to have other income beside Social Security that's tax-free as well. You can have additional income up to $27,000 tax-free. Income beyond that includes a small tax rate. By converting your IRA to a Roth, you can withdraw additional tax-free money to supplement your income. Hans plans to leave his Roth to his kids and will keep a small fund in his traditional IRA to leave a qualified charitable distribution to his church.   However, if you still have a large source of retirement income (i.e. you own a business) then you're going to pay taxes. Effective planning is about figuring out how to implement what you want financially and protecting you from what you don't want in the context of your situation. Hans emphasizes that this is why taxes are the seventh and final worry he talks about in his book. Taxes are on his mind from the beginning but he doesn't want to mislead clients that they're the "end-all-be-all" or unintentionally encourage bad investments such as tax sheltering. Robby says God commands rest because your life is under His control and it will work out for your good. That's why God places people like Hans in areas of expertise. Robbie wants listeners to know that Hans won't chase you down because he's busy studying the market and meeting his client's needs. Hans is happy to help if you would like his service or direct you to another advisor who also knowledgeable and will put your needs first.   Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.    

Proverbs 15:22 says "Plans fail for lack of counsel, but with many advisers they succeed."   This week, Tovah Mitchell, elder law and estate planning attorney, joins Hans and Robby as an adviser to help you succeed in finishing well. She covers everything from power of attorneys to stock certificates and taxes.       Estate planning is for everyone. Once you turn 18, you're an adult. Your parents cannot help you unless you have the documents in place. Tovah does say it is important to remember that estate plans do not just involve legal documents though, you have to consider what life insurance you have, your IRA holdings, you Social Security benefit, and so much more. This is why it is so advantageous to have a financial planner and attorney who can work together to come up with a complete plan for finishing well.     Do you know which document is the most important legal document? Tovah says it is the Financial Power of Attorney, or Durable Power of Attorney. This makes sure that someone you trust can take care of your finances when you cannot. A Healthcare Power of Attorney is another important document everyone needs to have in place.If you go to the hospital, it allows someone to advocate for you to make sure you receive the care that you want. But how do you pick the person or persons to designate? Tovah goes over the advice she gives her clients.     You also need a HIPAA release as well as a Last Will and Testament. Make sure to review and update these on a regular basis. At Cardinal, when new clients come in, Hans makes sure to look through their legal documents to make sure everything is correct, especially if they have recently moved, been married or divorced, or a close family member has passed away.     Lastly, Hans and Tovah discuss clients that they had to work on together, which involves how estates handle stock certificates as well as what can go wrong with your estate if you do not pay your taxes properly.     Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

In John 10:12, Jesus tells the story of the shepherd and the hired hand. The hired hand cares nothing for the sheep, but the shepherd is successful because he cares for the sheep. You know people who are hired hands, they don't care about their employees or their customers, and you know people who are shepherds. Shepherds and hired hands also exist in the financial industry. This week's guest, Doug Amis, CFP and author, joins Hans and Robby to discuss what to look out for when trying to select a financial advisor.   CFP’s, who have to be fiduciaries, are required to put their customers best interest first. In the parable, a fiduciary would be the shepard. CFPs are not the only fiduciaries though, CPAs, lawyers, and doctors all have to act as fiduciaries.     Doug talks about his grandfather, whose financial statements he reviewed. He realized that many of his holdings were not competitive, and he was paying high fees. Doug made sure to go through and fix this as the person his grandfather was working with was not a fiduciary. Robby had a very similar situation with his father right before he passed, when an agent tried to sell him stocks on his deathbed.   Doug says that you need to ask for the fees the advisor or agent charges. Also ask if they are working as a fiduciary. These are very basic questions that advisors should be able and willing to answer.   If an advisor does not have to follow a fiduciary standard, they must follow suitability standards, which means the product is suitable for the client. It does not have to be the best policy in any way. Advisors only have to ask 9 questions according to FINRA to make sure a product is suitable.   Lastly, Hans, Robby, and Doug talk about annuities, and how important it is to find a fiduciary when you are searching for this product.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Matthew 5:18, Jesus says "For verily I say unto you, till heaven and earth pass, one jot or one tittle shall in no wise pass from the law, till all be fulfilled". In other words, God's law won't change in the slightest until the end of days. Similarly, the jots and tittles that name IRA beneficiaries are the letter of the law and will supersede your Will and financial intentions.   Recently, at a conference hosted by Ed Slott, Tom said he learned that a court will uphold your IRA's listed beneficiaries over the those listed on your will. It can be heartbreaking when mothers and wives who need that money to support their families don't get it but an ex-wife does. People often make the mistake of naming someone as their beneficiary at their first job and then forgetting to change it when they get married, have children, or their life situation otherwise changes.   Hans says most financial accounts, including life insurance, annuities, and investment have some sort of beneficiary you can name. For investments, this is called a Transfer on Death or TOD. Tom says most clients don't know this because these institutions typically don't provide these forms up front. However, these forms are available upon request and can be filled out quickly. This saves families a lot of trouble getting money out of the bank when someone dies; they don't have to figure anything out and can claim what's rightfully theirs.   Hans says some people make the mistake of listing the estate as a beneficiary. In that scenario, taxes will be due on your IRA all at once in a lump sum. This will drastically decrease the amount of money you may have intended to be left to your heirs. Robby says his own father labeled a trust he wanted to create as his beneficiary, but that trust was never actually created.     Tom says most people want to focus on IRA investments but, in reality, IRA taxes are by far the most discussed issue by experts and will affect heirs the most. Hans says while the goal is to minimize the taxes on your IRA, you will have to pay some taxes in the future no matter what. Consumers need strategies on how to manage their IRAs and advisers need to be informed at risk of malpractice for poorly handling these accounts.   Hans says he knew of an advisor who had failed to transfer a client's beneficiaries when he switched jobs. As a result, when the client died, the money was left to his estate and virtually wiped out by taxes. If the money had been left to the children as intended, they could've stretched the IRA over their lifetimes and greatly increased the amount of money inherited. The adviser ended up being charged with malpractice.   Tom says that while Roth IRAs are a great strategy when appropriate, they're not for everybody. Your retirement plan should be highly individualized for your situation. For some, Roth IRAs don't make sense because you can still make a lot of money and stay within lower tax brackets. Also, at age 70 1/2 you can donate up to $100K of your minimum distribution to your church or charity without paying taxes.   Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.    

In the Sermon on the Mount, Jesus said, "Blessed are the poor in spirit, for theirs is the kingdom of heaven". Robby points out that we should recognize that we are "poor in spirit" when deciding when to take our Social Security and ask for help. Bloomberg recently published an article titled "American's lose trillions claiming Social Security at the wrong time". Hans agrees that generally, people start their Social Security too soon, usually because they did not ask for help.     People who delay Social Security can live off their IRAs or take another job if they don't want to retire yet. Hans emphasizes that, on average, households that take Social Security too early lose $110,000 of lifetime income. Robby talks about how it's often the people who can least afford this loss that take Social Security too early because they think they're out of options.   Mistakes are also made under the misconception that the full retirement age is 62, when in fact it's now 66 and a few months for most people. Hans warns that starting your Social Security at age 62 will significantly reduce your income for the rest of your life.   On the other end of the spectrum, the people who take Social Security too late are those who rely on actuarial tables that treat everyone the same and don't accommodate unique situations. Hans says one exception to the rule are people who have a sense of their mortality. For those who have a family history that indicates they won't live as long, he recommends they take Social Security earlier rather than later.   Another example of a situation where Social Security should be taken earlier appears in Hans' book. Hans talks about a 67-year-old client that initially decided to delay Social Security. As it turns out, this client had a son in high school and was eligible to receive 1.5x his original Social Security benefits. Hans prompted the client to take his Social Security immediately because the benefits were greater than the loss he would've otherwise had from taking it that early.   One area where Hans deferred from Bloomberg was on the topic of spousal benefits. Robby plans on waiting until the age of 70 to take his Social Security to ensure his younger wife will receive a larger check after he's gone. Hans says he also plans on waiting until he turns 70 because his wife's family history indicates that she'll live into her mid-90s and he wants her to have enough money to support herself during these extra years.   Up next, Hans talks about the effect taxes have on Social Security, IRA, and pension benefits. Hans says a lot of people don't know that receiving income from a traditional IRA will cause their Social Security to be taxed. Robby says this really hurt one of his friends and took a huge chunk of his income. The solution to this problem is converting your IRA account into a tax-free Roth IRA before retiring. Hans says he plans on doing this before he turns 70 to live tax-free for the rest of his life.   Hans wants his listeners to know that Cardinal is licensed in all 50 states and can help no matter where you live over the phone. Even if you have to give up is a face-to-face interaction, you'll have access to an independent brokerage that represents almost all insurance companies, most investment products, and will have direct access to Hans' expertise.     Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

Proverbs 10:13 says, "Wisdom is found on the lips of the discerning, but a rod is for the back of one who has no sense." When it comes to Medicare Supplements, unfortunately many people don't have the tools to have sense, and it can end up being a rod in their wallets. This week, Hans and Robby discuss everything you need to know about Medicare Supplements, Medicare Advantage plans, and Part D Drug plans!     Medicare Supplements are standardized by the government, but unfortunately people are not told about this too often, and it is buried in the literature that many don't bother to read. People are so happy with their Supplements, they are unaware there are 39 other companies selling the exact same thing, usually at a lower price.     Medicare Supplements all have lettered names to allow for genuine price shopping. When you take the same letter and look at all the companies offering it, they are offering the exact same thing. Usually, the lower priced companies are still great, well known companies!       Hans and Robby discuss the practice of sales agents being sent right to people's front doors. Everyone is actually selling the same thing, but how do they differentiate themselves? These sales people are usually captive agents, which Hans explains, and are not educated themselves on all the facets of Medicare Supplements. They only know that their product is "the best". Hans suggests always asking these sales agents "How many companies so you represent?" If they only say one or two, make sure to get a hold of a rate quote to look at your other options. Hans talks about how this selling does not need to be door to door anymore, he does it all over the phone. He can email you a personalized Medicare Supplement rate quote with over 40 companies, all you have to do is contact him!     Hans and Robby then discuss Medicare Advantage plans, which many people mistake with Medicare Supplements. There are positives and negatives of Advantage plans, but you really need to make sure you know what you have.     Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

In Mathew 16, Jesus confronted the Pharisees and Sadducees when they tried to test Him, saying that they knew how to interpret a red sky but couldn't interpret the signs of the times. This week, Hans and Robby talk about the fear and confusion of retirement taxes. People tend to worry when their tax return is smaller than expected, while in reality, this is no cause for fear because the tax rates holistically have gone down. It's important to know the difference between retirement policy and politics so you can plan financially and live well.   Hans recently participated in a webinar with IRA expert Ed Slott and discussed the S.E.C.U.R.E. Act that recently passed in the House of Representatives. Hans says it's crucial for financial planners to pay attention to new tax rates and plan ahead for their clients' best interests. A single person can have an income up to $40,000 and a couple can file jointly with an income up to $78,950 to qualify for a 12% income tax. The next bracket allows a joint income up to $168,400 and a single income up to $84,200 for a 22% income tax. Robby talks about how a lot of families will find themselves in those brackets, and, instead of being afraid, should save and think about the future. You can generate more income by converting traditional IRAs or 401ks to a Roth IRA. This will allow you to pay taxes on the money going into the Roth in the spring and take advantage of the 12%, 22%, and 24% brackets. Robby says it wasn't that long ago when the tax rate was 30% or 34%, and right now, with the low rates, there's an opportunity to save and manage your money shrewdly.    Most people had a pension and savings to prepare for retirement 30 years ago. Now pensions are less common and 401ks, tax deferred savings plans, and IRAs are popular. These accounts give the impression of big balances, but that money hasn't been taxed yet. Because of this, there's not as much money in those accounts as people assume. Converting this money to a Roth over several years will minimize your taxes at a lower rate. Even though you are increasing your current taxes,  you'll be saving money down the line and creating a stable retirement income. Up next, Hans and Robby talk about the S.E.C.U.R.E. Act currently being processed in the Senate. The S.E.C.U.R.E. Act stands for Setting Every Community Up for Retirement Enhancement Act 2019. The bill is intended to help people better prepare for retirement by getting them to use their IRAs.   Because of this, the S.E.C.U.R.E. Act has changed the policy concerning beneficiaries. If a spouse is named beneficiary, they'll inherit the money in an IRA with no change. But if children are named beneficiaries, they can only stretch IRA taxes over ten years instead of their life span. Hans says if the goal is to leave as much money as possible to your heir, you should meet with a retirement advisor to help minimize potential taxes. It could be that life insurance is a better alternative to an IRA. The point is, tax bracket management is the key to secure retirement planning. Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Luke 12, the big barn parable tells the story of a rich man who grew extra crops and had no place to store them. He decided he would tear down his barn and build a larger one, which would give him the time to relax and take life easy. God told him he was going to die that night, and then what would happen to all the crops he was storing for himself. God called the man a fool!   This same idea can be applied to people who want to leave their large IRAs to their beneficiaries, Robby uses his father as an example. People going with the strategy do not realize the tax implications of what leaving a traditional IRA for their children is going to mean. The taxes are going to be paid by the next generation, which the IRS likes because it usually means they get more money.   There are much better strategies out there for leaving money to your beneficiaries!   One of these strategies is to withdraw the money over time, pay a small amount of taxes, and then put this money into paying a life insurance premium. Tom, a CFP at Cardinal, talks about how it is not as hard as people think to qualify for a life insurance policy. Most people will have options. Cardinal has 100 companies at their disposal to choose from. Robby is surprised to learn that you can even have multiple beneficiaries listed on one life insurance policy, and one of these beneficiaries can be the Church! Life insurance policies allow you to break down in percentages how much of the policy you want to leave to each beneficiary.   Tom talks about a co-worker who was looking at life insurance policy, she was 36, had kids, and her policy got tied up for a few months and she forgot about it. She ended up being diagnosed with cancer and passing within 3 months. She did not even have the money to even pay for the burial. It is never too early to plan for “what if”. Life insurance is not bought to win financially it is bought to protect your family if something happens.   Another great advantage of this strategy is that life insurance benefits are received tax free. As a fiduciary, Hans says it is his obligation   to make the tax code work in the best possible way for you. Robbie knows how much money can be left on the table and urges listeners to not make this same mistake. Talk to someone who knows. Life insurance hits in a matter of days, not months or years like probate.     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Colossians 1:24, Paul said "Now I rejoice in my sufferings for you, and in my physical body for the sake of his body, the church. I fill up what is lacking in the afflictions of Christ." This week, Hans and Robby listen to Tom as he discusses his personal experience with a health scare and needing an around-the-clock caregiver.   Tom said he had been experiencing bad headaches and unusual sleep patterns for a few days and wrote it off as work-related stress. His wife eventually forced him to go to ER, knowing something was wrong. The doctors, unable to find anything, sent him home. Only a few days later, Tom became unresponsive and experienced weakness in his extremities. He woke up in the hospital unable to use his legs. He was only 26-years-old.   Tom's doctors didn't know what caused his severe illness. Today, they know Tom experienced a disruption in his brain and spinal cord from a rare autoimmune disorder that attacks the central nervous system. At the time, however, his recovery was extremely difficult, especially with an 8-month-old infant in the house.   Tom said he was sent home in a wheelchair and his wife became his full-time caregiver. All of the sudden, she was solely responsible for everything from taking Tom to physical therapy to waking up in the middle of the night for their baby to mowing the grass. At one point, his wife got sick because she was stretched so thin and continued to persevere through it to care for her family.   Hans talks about how Cardinal Advisors had lost another employee right when Tom got sick during their busiest months of the year. Even so, Hans and other employees offered their help to Tom's family and supported him through his recovery.   Tom talks about how life is fragile and ultimately in God's control and hands. Even though his situation was bad, Tom says he was lucky. He had a loving wife who could advocate for him and coworkers who were patient and helpful. His wife was young, energetic, able-bodied, and could care for him effectively.   Most people don't want to discuss long term care. They assume their family will care for them or fear that nursing homes are the only solution or simply say they'll never be incapacitated. Tom wants to emphasize that he too thought he wouldn't need care until one day he couldn't walk.   It's important to know how extremely difficult it is to help grown family members when they're immobilized. Robby talks about how helping his dad into his wheelchair was next to impossible and left them both feeling hopeless. Tom added that he felt embarrassed when he was sick and couldn't take a shower without assistance. The point is, if loved ones don't have the proper training, it's difficult to impossible to help family members with limited mobility.     Up next, Robby talks about how putting simple legal plans in place like Power of Attorney, Medical Power of Attorney, a will, and a HIPAA agreement can help dramatically in difficult health situations.     Long term care planning takes care of a difficult decision-making process that can cause disagreements that divide families. Hans talks about how it's hard on the caregivers to see a loved one who can't get out of bed, function, or make decisions on their own anymore. Having the flexibility, permissions, and money to hire professionals relieves this burden and allows families to focus their energy on offering loving support.   Hans says long term care does not mean going to a nursing home. Long term care includes home health care and a fund to help your children care for you. Hans and Robby both say that they themselves will not move to a nursing home unless it's absolutely necessary and have planned according to those wishes. Taking the time to plan now while you're still healthy and sound of mind is worthwhile and can prevent a future bad situation from being made worse. Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.    

In Romans 10:17, Paul says “Faith comes from hearing, and hearing comes from the word of God”. This week, Hans, Robby, and Tom discuss people’s biggest worries in retirement and how to confront those worries with faith and smart planning. Tom says the number one worry he’s confronted as a CFP ® Professional is the question: “Am I going to run out of money?” People thinking about retirement are concerned they won’t have enough money to live comfortably or have the financial resources when and how they need it.   Hans and Robby discuss how understanding the debate between the investment and insurance communities is crucial to confronting this fear. The debate argues whether investments or insurance is better for generating retirement income. Hans says this is largely presented as a good vs. evil issue, but, in reality, having a basic understanding of both and a good mixture of investments and insurance is ideal. His goal is to help his clients figure out which mixture of the two is best for them.   The advantage with investments is that your money is easily accessible and they can produce a huge return. However, you could also lose it all or outlive your money. Insurance products are the opposite, they’re safe, because you can’t outlive your money, but your money will be harder to access.   Hans talks about how people have become too comfortable with stock indices and this has created a problem where some people put all their money in stocks. The stock market could crash at any moment and people in this situation could lose all of their money and savings. Tom adds that the stock market can spiral down just from fear of the coming recession and widespread panic at the first sign of a downturn. In the long run, this will make the crash worse. Hans says he still recommends that a significant part of your portfolio should still be in stocks. The goal is not to convince people to avoid stocks, but to keep them informed.   Income is more important than your account balance when you retire. Most people are used to focusing solely on accumulating money, but once you retire your strategy has to change because now you’re withdrawing money in addition to needing a small return. Hans recommends diversification across life insurance, annuities, and stocks.   Next up, Hans, Robby, and Tom define some important insurance terms. Fiduciaries are financial planners that looks at each client’s information specifically and must put the client’s best interest ahead of their own. An Annuity is an amount of money placed with an insurance company and credited with interest continually. This interest can never be lost once its credited to your account and you can benefit from stock market indices without the risk. Annuities can then turn into an income that exists for the rest of your life.   Hans then talks about a 70-year-old client who wasn’t focused on investments, her retirement income, or taxes and wanted to help her properly plan. Hans eventually found out that she had a 7-year-old annuity generating very high returns along with hundreds of thousands of dollars sitting in a stock that was earning almost zero interest. This extreme example illustrates how insurance products really do have an advantage sometimes. Another advantage is that you don’t have to watch the money you put in insurance accounts like you do with stocks.   Finally, Hans discusses another woman he met who wanted to put all of her money in a risk-free retirement account. Hans helped her see that too much money in annuities wouldn’t be smart planning and was able to assist her into diversifying her accounts and minimizing her taxes in stocks, bonds, and annuities. This gave her the retirement income she wanted and now she’s living comfortably, and her income is still growing a bit. The point is, most retirees are willing to trade a high return for some basic guarantees in retirement.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing  hans@cardinalguide.com  or calling 919-535-8261. Learn more at CardinalGuide.com.

This week Hans and Robby talk about IRAs with a special guest! Listen and learn about how Uncle Sam is  your silent partner in your IRA and more!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Matthew, Jesus gives His sermon on the mount and asks His followers not to worry, as their faith will replace their fear. Social Security strikes fear in many people, especially regarding how long it will be around. This week, Hans and Robby discuss how  to apply faith, or in this case fact, to Social Security, in order to alleviate fears and maximize your benefit. The Social Security 2018 Trustees Report was recently released. While this report is very long, Hans summarizes it, basically saying that the Social Security fund was increased by millions of dollars this year, they did not have to dip into reserves. A lot of this money comes from Social Security benefits that are paid out and then taxed. That money goes back into the fund. While there are strategies to put into place so that you do not have to pay taxes on your Social Security benefit, including Roth IRAs, there are still many people who do pay taxes on this money. This alone gives Hans faith that Social Security will be around for a while, no matter what people are saying. Robby relates this to Ephesians 6, where Paul talks about the Shield of Faith. At the time Ephesians was written, shields were used to protect fellow soldiers in addition to the soldier himself. Shields were essential because they protected the team. The Shield of Faith should be applied to Social Security. If your faith waivers in Social Security, it could cause people around you to worry about Social Security too. Of course, Social Security does leave some areas of worry. Hans talks about not mixing legitimate Social Security worries with worries not based in truth.   Next up, Hans and Robby discuss Social Security timing. You can start Social Security as young as 62, however you may not want to start it until you either need it or reach full retirement age . Even if you’ve already started Social Security early, there are strategies you can use in order to stop the payments and wait until your full retirement age. You can get the largest Social Security check if you wait until age 70, the latest age to take Social Security. Your spousal situation affects your Social security check as well, even if you are divorced or widowed. What happens when one spouse dies? Hans talks about how the survivor gets to keep the larger of the two checks, but one check still goes away. Life insurance can be a good way to make up for the difference. Long-Term care is also affected by Social Security, as it is the first place your family will get the money to pay the bill. It is important to not solely rely on Social Security to pay this bill though, as it will usually cover only a small part.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Luke 14 talks about the cost of being a disciple. In the passage, a king prepares for war by counting his troops; he does his homework to make sure he is prepared. At a certain age, you are most likely going to have to confront a health war, where you will pay thousands of dollars for health care. It is important to prepare for this and know how you are going to pay the costs. Understanding Medicare Supplements is the first place to start.   Hans tells a story about a 71 year old client who was interested in retirement planning. Through this, Hans was able to lower the price she was paying for her Medicare supplement by $140, even though she was reluctant at first because she liked her insurance company so much. Through a little education, he was able to give her more tools to fight her health war.       Medicare supplements cover the gaps that are left by Original Medicare. The supplements are standardized by the government, which means the same plans are offering the same benefits,  the only difference between the companies offering them is the price. It is important to not over value the company, the real benefit is coming to you from the plan you choose. On CardinalGuide.com, there is a tool that allows you to run a Medicare Supplement quote and see what every company in your area is charging for the same benefit. You can run this for free without giving any personal information!   Hans and Robby also discuss Medicare Advantage plans. Theses plans take you off Original Medicare. They also have networks. It is important to know what Medicare route you are taking or have already taken in order to be prepared to properly fight the health war.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Paul says in 1 Corinthians 13, “If I speak in the tongues of men or of angels, but do not have love, I am only a resounding gong or a clanging cymbal.” We don’t want to be gongs, we want to have love, but what does this love mean?   When you are nearing the end of your life, the care you need will come from the people you love: your family. Hans and Robby discuss the ways to plan for this properly this week on “Finishing Well”.   When Robby was diagnosed with lymphoma years ago, his thoughts were all about him and what he was going to do. He admits he did not think about the effect it would have on the people he loved. While he recovered from this diagnosis, it did make him realize that might not always be the case. There will be a time where he won’t recover. As you finish well, your death might be a long process. It sounds a bit morbid, but it is essential to have a plan in place for this process.   Hans and Robby both talk about their parents this week and how they stepped into care for them in the final years. Hans mother had Alzheimer's for 10 years. He was so thankful he convinced her to buy long term care insurance, as it paid for the advanced care that she needed. It also gave him time to focus on his mother and not how to pay for her care.   Robby had a similar experience with his father. He needed help for about the last 9 months of his life. Robby was able to see where some of the planning his father did helped and where more could have been done, especially in regards to preparing his family members for how he wanted to receive care. Robby and Hans both want to stay at home as long as possible and use home health care. Hans has already purchased a policy that will cover this. The insurance is not a plan though, the insurance just makes the plan possible, it provides the funding. It allows your family to be the care manager not the caregiver.   One funding option is traditional long term care. Hans talks about one company, with a Christian business model, who offers this insurance.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Luke 16, Jesus praises the shrewd manager who stole from his boss. He says, “I tell you, use worldly wealth to gain friends for yourselves, so that when it is gone, you will be welcomed into eternal dwellings.”  Many people tend to waste their wealth by not dealing shrewdly. Hans and Robby discuss how to apply these principles to income taxes, especially in retirement. Paying more taxes than you should, because you have not planned correctly, can be wasteful. You should not cheat on your taxes, but with proper planning, you can make sure you don’t pay more than you need to. When you are in retirement, you have more control over your taxable income than you did when you were working. Besides Social Security and possibly a pension, you can choose how you receive your money. Many people are going to pull from their IRAs and 401(k)s as these are the accounts they used to save for retirement. The problem here is, that unless your IRA is a Roth, you are going to have to pay taxes on this money. If you pull out too much, you could have to pay taxes on your Social Security and might even have to pay more for your Medicare. Hans talks about this issue arising especially when retirees need to draw a large amount for a one time emergency expense. Hans talks about how he solved this issue for himself, as well as how he plans to live tax free in retirement by taking small steps now. He is planning to not draw Social Security until 70. Currently, before he starts Medicare, he is converting all the money he has in a traditional IRA and putting it into a Roth. He is paying the taxes now while he is still working so these withdrawals do not affect his Medicare or Social Security in retirement. If he is not able to convert all the IRA money into a Roth, he will donate the money from this account to the church by using a QCD, or Qualified Charitable Distribution. Next up, Hans and Robby discuss life insurance, and how it has become a great way to create tax free income - even Hans does this! If you overfund a life insurance policy, you can get this money tax free if you need it; you can even make a loan from it interest free. If you do not need the money, your heirs end up getting a large chunk of tax free money when you pass. There are even life insurance policies that will pay for long term care! Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

On the first day of creation, God said “Let there be light.” Just as Jesus is the light of the world, he brings truth and does not like chaos. Robby talks about going through the bureaucracy after a loved one's death, being the executor and dealing with their will and their affairs. There is a lot of chaos to go through in this situation, but hopefully Hans and Robby can bring some light to it all on this episode of “Finishing Well”!   Robby talks about his father, who had a clear plan for his life insurance. He told Robby a few days before he passed that Robby was the beneficiary and that the $10,000 benefit was to be used for funeral costs. This is not what ended up happening, as Robby’s father was wrong about the beneficiary. It was not Robby, but it was a trust, which meant the money had to go into this and then go through the will.     Robby explains how hard this made it to get the money. It took him 3 weeks to get his father's death certificate. Then he had to start dealing with other stuff, such as his bank accounts and insurance policies. He even has to contact Social Security to pay back a check they made to his father after he passed. The life insurance policy was not available to immediately pay for the funeral costs like he intended. This is one part of the chaos that can be eliminated by simply looking at the policies regularly with a trusted agent.   Another way to stop some of the chaos is sitting down with your parents or in-laws and going through all of their insurance policies and estate plans. This will help to make sure the money goes directly to whom they intend it to, when they intend it to. The beauty of life insurance is that it can avoid probate if set up correctly. It gives your family members immediate money to take  care of your affairs.   Hans talks about the minimum every person should have in life insurance and what this covers. Even single people should look into life insurance; you will still have bills that are going to have to be paid after you pass. The base number for most people is going to be $25,000 but it is really going to depend on your personal situation.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Genesis 41, Joseph was called to interpret Pharaoh's dream about an oncoming famine that would last 7 years. When the famine hit, everyone was taken care of because Joseph made sure to proactively save. Unlike Joseph, you do not know how many years your famine, or retirement, is going to last. You need years of reserve, or money, to take care of you and your family. A solution to this gap can be an annuity.   Hans tells the story of a recent client who wanted her full income to be replaced before she retired. Social Security was not going to do this by itself. Hans brought up that an annuity might be helpful in this situation, but the client was very firm in her beliefs that annuities were bad, even though she had no idea why. Hans runs into this situation a lot, so he wants to go through all the negatives and positives annuities can bring.     The most common negative points brought up about annuities is that the fees are too high, they are difficult to understand, and the people who sell them are unqualified and just want to take your money. All these things can be true, but with the right advisor, these things can be understood and avoided.   Annuities can also bring some beautiful benefits to people's lives. They provide a guaranteed lifetime income, even to a couple. The only other program that does this is Social Security.   They also can help play for the long term care bill when that arises. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Matthew 28, Jesus talks about The Great Commission. Robby mentions to Hans that salesman love a great commission, but the actual great commission is not money, it  is making disciples. Disciples are enthusiastic learners, and then become enthusiastic sharers because they are so excited about the teachings. To really make good Social Security decisions, you have to be an enthusiastic learner as well. It is like homework; it does not seem fun, but you are going to be thankful that you did it. Hans and Robby talk this week about how a Social Security benefit is really a beautiful gift for people. The problem is, many people are so angered about where the program is going, that they do not trust what they are learning, and cannot make informed decisions, and end up making ones that affect them negatively in the long run. Robby talks about how he sees it. He would have never saved this money on his own. He would have never created a lifetime income for him and his wife on his own. God was looking out for him, and Social Security is a blessing. But when should you start Social security? The first step to making this choice is to go get your Social Security statement at SSA.gov. You can start your benefit as early as 62 and as late as 70. But the magic date is really dependent on many individual factors, such as if you are working, if you are married, if you are divorced, or if you are sick. Hans and Robby discuss all these situations. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Finding the beauty in everyday situations can help you hear God’s message clearer. Philippians 4:8 says, “Finally, brothers and sisters, whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable–if anything is excellent or praiseworthy–think about such things.” After a death of a close one, which Robby is currently going through, finding beauty helps him get through tough times. People reaching the age of Medicare enrollment sometimes have a hard time seeing the beauty of it, and it can hurt them in the long run.   According to Hans, people already on Medicare don’t really complain. They see the beauty because it is paying their bills and they are receiving great coverage. People not yet on Medicare experience confusion and become angry, which makes it much harder to be able to make informed decisions regarding Medicare. They are failing to see the good that Medicare is going to provide. While it is not necessary to ignore the bad aspects, especially the costs, it is necessary to remember that there is always some good. One “good” thing Medicare did for Robby is cover his father's $175,000 hosipital bill before he passed!   Robby talks about how his father did not appreciate Medicare when he had it because he was paying too much for his supplement. He didn’t know he could switch his supplement 365 days a year; he kept the same supplement throughout his life that he signed up for when he turned 65. It is so important to remember to shop around constantly, Hans recommends every 2-3 years, to make sure you are not overpaying and can see the good in Medicare.   It is also important to have this conversation with your parents. Medicare can be a safe place to start a discussion about their finances with your parents, it is less scary to them than topics like IRAs or long term care, but it can transition you into this.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Proverbs 13:12 says “Hope deferred makes the heart sick, but a longing fulfilled is a tree of life.” With IRA’s, or individual retirement accounts, hope, or money, deferred allows your longings to be fulfilled when you retire. These hopes include a comfortable retirement, with travel and fun, and providing for your family. Robby talks about how his dad wanted to go to Hawaii with his wife, but after she passed, he instead got to go with his children. This was his hope deferred. One thing most people where not hoping for is paying taxes on the money in their IRA, but someone is going to be paying these taxes. That is why RMDs, or Required Minimum Distributions, now exist, so that people do not just hold this money in their account until they pass. If your children or spouse inherit this money, it is likely they are going to take the money in a lump sum, and pay a much larger tax bill than if this money was taken out over time. There are some strategies you can put into place now to make the tax bill much more manageable. The first is QCDs, or Qualified Charitable Distributions, which we talk about a lot on this show. If your hope for this money was to give back to the kingdom, and you are over 70 ½, you can start implementing this today to not only give money to the church, but also satisfy your RMDs and reduce your taxes! Another strategy involves life insurance. Hans discusses policies that, over the years, will drain your IRA to pay the premium on a life insurance policy. You pay taxes on the amount coming out, and the rest goes to pay the life insurance bill. Ultimately, when you pass, your family is going to receive more money than they would have if you just left the IRA, as life insurance benefits are tax free. In this situation, you still have control over the money, as the cash value of the policy is still available to you. There are even policies that will allow you to access the death benefit early to pay for long term care costs! It is so important when you are doing this planning that you find someone who is looking out for things that you are not even thinking about and makes sure your family is taken care of. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

1 Timothy 5:8 says, “Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.” This week, Robby talks about how this verse is more relevant to him now. He is no longer ignorant about Medicare and long term care. Robby feels like it is his responsibility to share his personal story so that other people don't find themselves where he was without a plan. Your chances of needing long term care is either 0% or 100%, but Hans stressed that we focus too much on the statistics. What really is going to motivate you to make a plan is the consequences on your family, because those are the people you love. Hans talks about a conference about long term care that he recently attended. In one section, he learned about the 5 consequence to family caregivers, which are: Providing care impacts the emotional and physical well-being of caregivers Providing care to chronically ill individuals makes healthy caregivers chronically ill Extended care compels a child or children to place aside their lives It creates ill feelings between those siblings that help and those that do not Extended care does not bring families together…it tears them apart With a plan for long term care, we cannot make all these things go away, we can mitigate some of this stuff. Robby talks about his own situation and agreed with all these points. He talks about his sibling relationships now as well as how thankful he was to have time with his father. It has opened his eyes to how important it is to have a plan. We are at some time going to finish, and finishing well takes some planning. Find the right person to help you make this plan. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

2 Corinthians 12:9 says, “But he said to me, "My grace is sufficient for you, for my power is made perfect in weakness." Therefore I will boast all the more gladly about my weaknesses, so that Christ's power may rest on me.”  It is hard for people to admit that they might need long term care one day; it means they will be weak. While people have no problem accepting they are going to die, and know that life insurance will be needed in this situation, it is much harder to accept the idea of becoming reliant on someone else in their old age. Robby really talks this week about how his dad is handling this situation. He is vulnerable and needs help from others, and accepting this has lead to some beautiful conversations between Robby and him. Robby can see God’s strength in these moments. This situation has made Robby consider who is going to be his caregiver. He knows his wife will step in out of love and commitment, but many caregivers then become completely ignorant of their own needs. Robby does not want that for her. Long term care insurance, most with the option of paying for some home health care, would give Robby’s wife a choice. She could get someone to come to the home to have relief and be able to care for herself. Even though people can afford this care without insurance, they are much less likely to accept it when they are the ones paying for it. Robby’s dad kicked the hired nurses out of his house. You have to plan this journey out, and not just at the financial level, at the emotional level too, in order to make sure all your loved ones are taken care of. Don't forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

This tax season, returns might look very different for a lot of Americans. This week, Hans and Robby talk about what differences people 62 and older might see.   Social Security is the biggest difference for people in this age bracket. If your only income is Social Security, you will pay no income taxes on this money. If your other taxable income is small, you will pay some tax on that income, but still none on your Social Security benefit. Only when you reach higher levels of other income does your Social Security benefit become taxable. It is important to note that you will never be taxed on more than 85% of your Social Security benefit. You can lower the taxes on your Social Security if you plan ahead, especially by using money from a Roth IRA versus a traditional IRA.   If you do have money in a traditional IRA, which counts as taxable income when withdrawn, there is a way to take this money and avoid taxes. Using distributions from this account as a QCD, or Qualified Charitable Distribution, allows you to make donations directly from this account and qualify this money as nontaxable income. As Robby says, if you are already donating $100 or more a month to your church, you are over 70 ½, and you have a traditional IRA, you could be leaving a lot of money on the table.   Taxes are important, and it is important that you stay educated on all the aspects of your money in order to make sure you are paying only what is necessary, not any more. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

John 14:2 says, “In my Father's house are many mansions: if it were not so, I would have told you. I go to prepare a place for you.” Jesus isn't just winging it, he has a plan for you and your estate. You shouldn’t wing it with your estate either. Having a plan in place and properly set up will save your family the frustration, confusion, and sadness of having to figure out your estate in their time of grief.   This week, Robby talks about his own personal situation regarding estate planning. His father is in his final stages of life, and Robby is going through and organizing this estate. Robby mentions he recently found out his father has an IRA, but he doesn't know who the beneficiary is. Hans mentions that the listed IRA beneficiary will trump whatever is in the Will. This means that if the IRA has Robby’s deceased stepmother listed as the IRA beneficiary, it will have to go into her estate and they will have to figure it out from there. This can be a very time consuming process. If there is a contingent beneficiary listed, then it will go to this person instead of the stepmother’s estates. This all gets really complicated, especially for your family trying to figure this out after you might be gone. Getting this sorted as soon as you can, and keeping up with it every few years, can really be beneficial for you and your family in the long run.   Hans and Robby also talk about life insurance, and how this money comes quickly and tax free. This is a great policy to have in place so your family is taken care of while the rest of your money, such as IRA money, is going through the estate.   How can you set up an estate so that your house does have many mansions? Proper planning is the answer. Don’t  forget, this probably involves talking to a professional. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Eclesiastes 4:12 says “And though a man might prevail against one who is alone, two will withstand him–a threefold cord is not quickly broken.” Robby points out that it is fascinating how many things in our life come in threes and that would really be inspiring if we truly understood the threes.   Hans goes over the traditional three legged stool of retirement income that was originally created in the 1940’s. Now, the leg that represented pensions is being replaced by “defined contributions”, such as IRAs and 401(k)s. What happens when this leg is weak?   Retirees now have a balance in these defined contributions accounts that starts reducing when they pull out money to live on. Hans talks about a client who believed he did not need a plan because he has over $500,000 in an IRA. 5 years later, it was down to $70,000 and he needed this income to last for the rest of his life. A lot of this money was drawn to pay taxes, he was only living off $50,000/ year. This is where a plan would have really helped him.   There is a solution to this problem. Insurance companies offers a plan that will guarantee you a monthly check as long as you are alive, even if your account runs out of money: an Annuity. Make sure you and your family have enough money to live off of in retirement.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Robby is reading a book to his dad about lessons you can learn from sheepdogs. One of the main points the book makes is that the main way to communicate with sheepdogs is by hand signals, not verbal communication. Just like sheepdogs, you have to follow God’s signals as they come into your life. Hans had a client come into his life when he was just starting Cardinal. Dr. Bob introduced Hans to Ed Slott, the IRA expert. While Hans thought he knew a good amount about IRAs, he learned so much by going through the Ed Slott training. He followed the signals God was giving him and it gave him a whole new way to look at IRAs, especially the tax bill that sometimes comes with IRAs.   Hans and Robby talk about the 3 couples again this week. First, the Pennsylvania couple, who wanted to contribute more to their Roth IRA to avoid taxes in retirement. Hans deteremed with the couple that they should not convert their other IRAs but should see if they have Roth options for their 401(k)s. With their IRA money, Hans basically helped them lay out 2 buckets of money to draw from in retirement. Second, the Indiana couple, who used their IRA money to purchase an annuity which gave them not only income, but possible long-term care benefits as well as a death benefit. It is important to remember there are ways for people with health conditions with IRA savings to still get some protection from long-term care. Lastly, Hans and Robby discuss QUDs and how you can charitably use your IRA to give back to the kingdom! Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Many of us are familiar with the idea of waiting on the Lord. For years, Robby explains, he thought just waiting was okay. He then explains how he studied QAVAH, from Genesis, and found that sometimes there is waiting, but sometimes you need to twist into your situation and get more insight. This twisting can help retirees find the right answer to when to claim their Social Security benefit.   Hans and Robby discuss 2 couples this week who have taken an usual route to their Social Security benefit:   The first couple is from Ohio. When they came to Hans they learned that the wife was going to be able to claim half of her husband's Social Security benefit. They were claiming the very small $120 benefit the wife had accrued during her working years. They had to suspend this, give back the money, and they will wait to claim off her husband for about $1,500 a month. Social Security has this built in “Oops clause” that allows you to do this within the first 12 months of electing your benefit.   The second couple, in Indiana, have to decide how their Social Security is going to work with their declining health as well as taxes. The husband is 62 and not in the greatest of health. He also has the possibility of still working and earning an income. While for sicker people, it is usually advantageous to start your benefit as soon as possible to maximize your money, if he earns over $17,000 a year, his benefit will be taxed. Hans goes through his situation and explains the compromise they came to.   Social Security full retirement age is a moving target, for people retiring right now, it is around age 66, in a few years, it will be around age 67. It is important to look into the decision well before you make it. Make sure to make QAVAH part of your life!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Christ gives us all a period of grace while we are on earth. We have time to accept him into our lives before we die. Recently, Robby found out that there is also a grace period when it comes to signing up for Medicare. Just like with Christ, if you do not make the deadline of this period, it can be very costly. Hans and Robby go in-depth this week about Medicare deadlines and the penalties that come with them. Robby recently saw an article chronicling people who missed these deadlines and how it impacted their lives and finances. Hans explains that he sees clients all the time who have just skimmed over these, and are now paying heavy penalties for these mistakes. There are many examples of these penalties. There are penalties for late enrollment in Part B of Medicare as well as Part D. There are exceptions to this if you are still on a group plan, but this exception does not apply if your workplace has under 20 employees.  They also talk about what to do if you have COBRA coverage. Hans breaks it down to this: the majority of the people who have made mistakes do so because they get advice from their friends or family and think they have the facts right when they don’t. It is worth your time to talk to a professional, it could end up saving you thousands of dollars. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

John:14 is considered the comfort chapter, saying “And if I go and prepare a place for you, I will come back and welcome you into My presence, so that you also may be where I am.” Jesus has a place for us for long long long term care, we just have to make the decisions now to get into this place in the kingdom.   This week Hans and Robby discuss 3 couples who have recently purchased long-term care insurance products and the different strategies they are using to cover this expense. There is no cookie cutter approach to the way that Christ brings you to your long-term care plan, everyone is different. Most people 65 and over think they are too old for a long-term care plan and there are no solutions, but there are, up to age 90. Here are their stories:   Our first couple, the Pensivanila couple, are younger and still working. They are very concerned about leaving an estate for their daughter, and Hans pointed out a product that would give their daughter an inheritance and cover long-term care if they need it at the same time. Listen to find out why they ended up going a different route.   The second couple, the Ohio couple, are very concerned about long-term care. Most of their money is in an IRA account, so Hans proposed rolling over this money into a product that would  cover this cost.   The third couple, the Indiana couple, was not interested in long-term care until they found out the husband could not qualify due to health issues. Instead of a traditional product, Hans suggested an annuity product with enhanced benefits for long-term care. The best part- this product has no health questions!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

There is a well-known saying “The devil is in the details.” In Jeremiah 32, it is really easy to see that God was in the details way before the devil way.  This week, Hans and Robby discuss the details of estate planning, and the exact documents you need to have in order.   When setting up estate planning documents, Hans and Robby discuss how you should be thinking about your family. When you are not calling the shots anymore, you children or your spouse are going to be the ones doing this. Don’t you want this process to be easy and laid-out according to your wishes?   Hans talks about a client who came to him thinking he had everything squared away with his estate, he wanted help with his money. After talking for a few minutes, Hans figured out that he had a huge hole in his documents. He did not have some of the few essential documents at all while the other ones were not set up correctly. Before doing anything else, Hans and his client tackled this, as it can affect all other areas of your retirement planning, especially long term care.   The 4 documents you should have prepared by an elder law attorney are a Will, a Health Care Power of Attorney, a Durable Power of Attorney, and a HIPAA release. Hans explains why the HIPAA releases you have signed at the doctor already are not suitable. If these documents are not in place, your family could end up having to go through the court to get Guardianship. While this can be expensive and time consuming, it can also end in an outcome that you would not have approved of if you had a say.  God is in the details, and it is important to get these details right before it is too late.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Ecclesiastes, it says “ To everything there is a season.” Retirement is a season in life that is full of change, including your taxes. Taxes are different in retirement; there is Social Security, Medicare, IRA withdrawals, and for some, work income.  Prosperity can come in your season of retirement from not having the tax burden you had while you were working. The only way to reach this prosperity though is to plan for it before this season hits.   Hans discusses a client who retired when he was 73 years old. After retiring, he started to withdraw money out of his traditional IRA to live off of. In a short amount of years, his over $500,000 IRA became an $80,000 IRA. These withdrawals, combined with his other income, meant that he paid taxes on all his income. This is when he sought Hans’ help; he needed money to live off of for the rest of his life. Hans was able to look at his budget and get him the money he needed to live, tax free. The IRA is now there for this client to make charitable donations out of, using a QCD.   It is important to note though, for everyone, tax free isn’t the way to go. It is very important to look at your specific situation. It can be achieved much easier if you begin planning in your 40's, 50's, or even 60's.     Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!

We all have the fear of the unknown. Psalm 56:4 says “in God I trust and am not afraid”. We stake our whole future on god, because we know him, and we can trust him, which makes us feel peaceful and at ease.   Hans and Robby talk about how to feel this same ease with the stock market.   We are scared of the stock market because we don’t know what is going on. The market does not  like uncertainty either, but uncertainty is necessary. If you do or do not like this uncertainty, that is going to affect what kind of investments you make.   Hans and Robby refer to the chart in the investment chapter of “The Complete Cardinal Guide” that goes over high and low risk investments. Hans explains how to know if you want to be a high risk or low risk investor.   Hans asks listens to educate themselves a bit and get together a financial plan,  because if you have a plan to deal with these uncertainties, you will be able to relax.   In the second part of the show, Hans and Robby talk about annuities. Hans explains how these work with a story of a specific client who did not understand how the annuities could afford to pay out so much for the rest of her live. Hans goes over this and why he choose this product for her.   Lastly, Hans talks about the opportunity that Cardinal has to take all your investments and put them in a report that analyzes the kind of risks you take. If you would like to take advantage of that, contact us!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

We have been doing Finishing Well for a year! Thanks for joining us on this journey!   This week, Hans and Robby discuss IRA’s. The original idea behind money is that it is supposed to serve as a servant, for your family and for the kingdom; is your money doing this?   We can show love through our money. Just like in Matthew 25:18, God will reward those who bring back more and chastise those who dig a hole in the ground and hide their money.   IRAs were not created to accumulate money and leave it all to your children. They were created to replace the pension, which allows the postponement of  taxes. There are rules and laws limiting how long you can postpone though, which comes in the form of RMDs, or required minimum distributions. There is only one way to get money out of an IRA (which is not a Roth) and not pay taxes: a QCD.   QCDs, or Qualified Charitable Distributions, are a direct transfer of IRA money to a charity, such as a Church, which satisfy RMD requirements and are tax-free. There is a max of $100,000 per year per person, but this strategy can be used with much less money.   Hans then tells a story about a client he met 5 years ago when he was turning 65. The client, John, came to Hans for a Medicare supplement, but Hans immediately began helping him plan for his required minimum distributions, which start at 70 ½. At this time, Hans set him up with an annuity funded by IRA money. He put in $170,000, and now it is worth about $213,000. While this might not seem like a great return, during these 5 years, John was guaranteed that he would never lose money.  He also has guaranteed payments for life. Now, his wife and him are taking annuity payments and donating $5,000/year. This money satisfies his RMD but he does not have to take taxes out.   This annuity also has the added benefit of long term care coverage. If John or his wife needed this care, their yearly payment would double for up to 5 years to cover the cost of this care.   This can be a complicated process, do not try this at home. If everything is not in line in regards to the IRS, there could be consequences, including extra taxes. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

At the end of last week's show, Hans and Robby discussed the significant decrease one spouse receives in Social Security income when the other spouse passes. This week they talk about the solution to this gap.   Robby starts of the episode talking about his wife, and how he wants to provide for her and allow her to advance the kingdom if he passes before her. Life insurance is the way to do this, and it is available for everyone who wants to love and provide for their spouse and family.   Hans then talks about all the people he’s worked with that tell him they do not need life insurance for one reason or another. His philosophy is that everyone walking the planet should have at least $25,000 of life insurance. No matter if you are married or single, someone is going to have to pay for bills and a funeral when you pass, as the estate cannot pay out money that quickly. Life insurance can, and provides this money to whoever has this responsibility.   Lastly, Hans and Robby discuss how life insurance can be used by your children to further the kingdom. Robby brings up Bart Millard from Mercy Me. His father bought a modest life insurance policy which allowed his son to be able to invest in his dreams, his music. What a gift to give, and a gift which has touched hundreds of people.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

The second letter in Hebrew alphabet, Bet, means household. Jesus was born in Bethlehem, which translates to “house of bread”. In this new year,  is our household going to be a house of bread, are we going to be able to provide for our families? Social Security is the first part of providing in retirement. Social Security spousal benefits are particularly interesting as many people do not know that they are leaving money on the table. If you do not set them up right, you might slice the bread a little thin.   Hans and Robby first talk about divorced couples. Many people do not know that as long as you were married for 10 years, you can collect off your ex-spouse's record, as long as you were not remarried before age 60. Really, Hans stresses that there are many steps you can take to make your Social Security check as large as it can be, you just have to plan for it.   Another situation Hans sees a lot is a couple where one spouse dies in their 70’s, while the other lives for 10-20 more years. This causes an extreme loss of income when the deceased spouse’s Social Security check goes away. Hans discusses how he prepares clients for this.   Lastly, Robby and Hans discuss the world’s largest annuity, which is Social Security and how it relates to the three legged stool!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Today, Hans and Robby start with a prayer. This episode is something that we have not done before, but are excited about!     Robby starts to talk about how God is our shepherd, and we must trust him to be led. God puts many other shepherds in our life to leads us where we need to be. One of those might be a financial planner.   Hans discusses how trust is the main component of a relationship with his clients. If they do not trust him, he cannot Shepard their family in the right direction.   A good Shepard is very concerned about his sheep, and you should have a financial planner that is looking out for your financial needs, and well as emotional needs. As everyone knows, there are many planners who do not have your well-being at the forefront of their mind.   Hans explains what a fiduciary is, what a CFP is, and how they have to adhere to a higher level    Make sure to find the right Shepard for your family. What you leave behind you is an estate, or a pasture. Just like sheep, you want to leave a green pasture, both spiritually and financially, for your family to advance the kingdom with!   We hope everyone has an amazing Christmas!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! If you send us a message with your email or home address, we will get the book to you for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

What is the ultimate finishing well? This week on “Finishing Well”, Hans and Robby are discussing taxes and what you need to do before the end of the year! Even God rested on the seventh day, and you can rest at the end of the year knowing this is all taken care of. RMDs from your IRAs have to be done by December 31st for this year. If you have put it off, you need to get it on it ASAP, as it can take days or weeks to get these distributions. Even if you do not have RMDs currently, it may be more tax advantageous to pull some money out of these accounts now.  There can be tax consequences if you do not look into RMDs and IRA money before the end of every year! QCDs, or Qualified Charitable Distributions, and gifting are also discussed on this weeks episode - you can do both before the end of the year! We hope you can finish well in 2018 and have a Merry Christmas! Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Long Term care is not something that just you have to worry about. Your spouse, your children, your siblings, your nieces and nephews, and even your close friends might feel the impact of a long term care crisis. It is better to plan now to make it as easy as them as possible. The holidays, when everyone is together, could be the perfect time to at least start these conversations.   Hans and Robby discuss the intimate conversations we need to have with our family and friends surrounding long term care situations. It is very hard and a lot of people avoid these conversations entirely, which makes it a really difficult situation for everyone involved when it hits.   Robby tells a personal story about how having these intimate conversations with his father recently, while being hard, makes him feel closer to his father now. He also knows what his father's wishes are and will be able to take care of him in the way he wants.   Hans then talks about all the options you have for long term care insurance, including hybrid long term care insurance.   Know what questions to ask this holiday and how to approach the conversation of long term care. Having this conversation can end up being the gift that keeps on giving when it is time to put a plan into action. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Medicare Annual Enrollment is almost over, it ends on December 7th. Do you know if you need to do anything? Hans and Robby discuss  the 5 decisions Medicare beneficiaries need to make every fall. The first one is if you would like to go the Medicare Supplement route or the Medicare Advantage route. Next, you need to decide which companies, which plans, and which drug plans you’ll have for the year. Make sure to listen, because the first decision is usually skipped! People can pay thousands more a year for the same coverage if they do not do this review every fall. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Ephesians 1:18  says "he eyes of your understanding being enlightened; that ye may know what is the hope of his calling, and what the riches of the glory of his inheritance in the saints". We see a lot about inheritance in the bible, but what does this mean in our everyday life?     We need to look after our family after we die, and one way to do this is to provide them with financial security, which can come in the form of life insurance.   While it is easy to decide in your younger years to sign up for life insurance while you are still supporting children and paying the mortgage, it is easy to believe that you do not need this coverage in retirement. Hans sees people that believe this every day.   What people don't consider is the cost of a funeral as well as the money needed to pay the bills that are probably not going to stop for at least the next 6 months, especially if you are leaving a spouse behind. Just because you are gone, does not mean the phone bill or the water bill doesn't need to be paid.   Hans has many examples in his books of the costs of policies. Many people falsely believe that you can't get life insurance after a certain age. Hans talks about how he can sell policies to people up to age 89.   In all these examples in the book, Hans uses the death benefit of $25,000. This will cover the funeral, estate settlement, executor, and income replacement for 6 months to a year for most people. Men are going to cost a little bit more than women, as that is how life insurance prices normally are.   These are all permanent policies, meaning they will be in force when you die. They are also guaranteed to have premiums that will not increase.   Lastly, Hans and Robby discuss making sure that the person you go to to get help with life insurance is a fiduciary and why that is.   Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  

  In the bible, Eve had a choice: eat from tree of knowledge or eat from tree of life. While we all know how the story goes, the interesting thing is, if she took from tree of life, she would have lived forever. As we finish well, we have to think about how our money is going to last forever.   Hans tells Robby that the biggest fear clients come in with is the fear of running out of money and becoming dependent on their family or the state. They need their money to last even when they stop working. So how can they invest their money to do this? One way to do this is annuities.   Annuities do get a lot of bad press, and some degree of this is true, but only because people do not understand the product they are purchasing or get sold the wrong annuity for their situation. At Cardinal, Hans and his team sells for 30+ companies who offer annuities, and have access to over 1,000 different contracts for their customers.   Annuities are a product you can put money into and then have guaranteed payments for life once you turn it on. It works similar to a Social Security check, and is insuring against you basically living too long.   Hans talks about a client who he recently sold an annuity to. First, Cardinal figured out how much money she needed to leave out to live on for the next few years; you do not want to put every dime you have into this product. Then, they waited about 8 years for her to run out of this money. Once that happened, the client turned the annuity on. Now, she has a check coming to her every month for the rest of her life. Even if the policy does not have any cash value left, if she is still living, she still gets a check. If she dies before using the cash value, the remaining will go to her son.   Hans explains this Fixed Index Annuity.  While there are fees for this annuity, which Hans goes over, he discusses the return you can get on these.  The guarantee in the name means that the worst return you will ever get is zero, meaning you will not lose money. You do get to participate in the upside returns without participating in the downside, which is one reason there is fees.   All this will is confusing, and you really need to find someone you trust to walk through the options. You want to make sure this person is a fiduciary, meaning they have your best interest in  mind.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

It is “Finishing Well”s” first LIVE show. This week, Hans and Robby visited Peace Church in Durham, NC to discuss IRAs, and go more into depth about Qualified Charitable Distributions.   Robby discusses Matthew: 20, the parable of the day laborer. The story is basically that a landowner whent to hire workers in the morning for his vineyard and offered them to pay thema  denarius for the day. 2 hours later, he got another group to come to work, and then he got another group, with one hour left, hre brought another group. At the end of the day, everyone got a denarius, as that is what he promised them. The workers who worked longer were upset that they got the same payment as the people who only worked an hour.   Almost everyone gets angry when they have to take out money out of their IRA when they turn 70 ½, especially when they have to pay taxes on this money. A lot of people view this as their savings account, and it is for many people because it is the account with the largest amount of money at their disposal. Natuall, with a savings account, you are going to want to save not spend. But that is not what IRA’s were designed for. They were basically designed to replace pensions that were going away at the time and to give people and income to live off of in retirement.   Some people also like to use IRAs as a vehicle to pass money onto their children or spouse once they pass. While this is a great cause, this might not be the best way to do this as, no matter what, someone is going to have to pay the taxes on money when it comes out of an IRA. More often than not, as Hans discusses, the children who get this money take the lump sum and lose a lot of money to taxes. Hans and Robby discuss strategies to leave this money in a more tax-effective way.   Lastly, Hans and Robby disuccss QCDs, or Qualified Charitable Distributions. These are one way to take out money from your IRA, possibly to meet your required minimum distributions, and not pay taxes on the money. With QCDs, you can give up to $100,000 per year per person to a Church, or other charity, tax-free. This strategy works great for many people, but you definitely need to consult with a professional before implementing it. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   If you would like Hans and Robby to come to your church, you can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Luke 6:41, Jesus says “give, and it will be given to you. Good measure, pressed down, shaken together, running over, will be put into your lap. For with the measure you use it will be measured back to you.” Have you ever considered this with your own personal Social Security?   This is the question Hans and Robby answer in this week's episode. Social Security is the pillar of many peoples retirement income, so the check needs to be as large as you can get it to be. The idea of Social Security planning can really just be broken down into “When am I going to be taking my check?”   Robby tells the story of his friend who gave him advice about taking his Social Security check early. Hans then discusses the number one reason that Robby might not want to do this: his wife.   There are absolutely people who need to take their check early and then there are people for whom it would be more beneficial to wait. Hans goes over these situations and points out that the biggest mistakes that he sees clients make is taking  Social Security advice that their friends and family have given. They are not in your situation, you need to find out what works best for you, not your best friend or brother or sister.   Hans and Robby also go over Robby’s own personal Social Security Earnings statement. Hans explains how you get this now, since it does not come in the mail, as well as the most important numbers on the report.   Going through Robby’s statement, Hans points out how much money he and his wife would lose by Robby taking his check early. Just doing the math is very important in figuring out when you should take your Social Security statement.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

This week we are diving further into Medicare, discussing Medicare Supplements and Medicare Advantage Plans. We talk about the differences between the two, how they cover what Medicare doesn’t, and how much they cost. We also discuss the biggest similarity of them both: they don’t cover long-term care! How do you fill the gap that this leaves?  How does Medicaid fit into all this? Listen to find out! If you would like to follow along with the show in the book, you can get the books on Amazon or download the corresponding chapters on CardinalGuide.com! Hans can be reached at 919-535-8261 or Hans@cardinalguide.com.

Robby starts off this week by talking about his mom, and when Medicare stopped paying for her hospital stay. Hans talks about why this was not covered and what all Parts of Medicare cover. Part A, Part B, Part C, and Part D, all cover different services. If you have some of these Parts, you will not need others.   Robby also talks about his mother-in-law who has extra help. Hans explains what this program is, how it helps people who can’t afford all of Medicare, and the difference between it and Medicaid.   Lastly, Hans and Robby discuss how Medicare pays for long-term care and how Veterans Aid & Attendance can help with this costs. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Medicare Annual Enrollment is upon us, but do you really need to do anything? Hans and Robby discuss  the 5 decisions Medicare beneficiaries need to make every fall. Make sure to listen, because the first decision is usually skipped! Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

In Acts 7:54-60, the people were so mad at Stephen, that he was stoned to death. Buy what did Stephen say that angered the people so badly? He told them you can’t save yourself.   When finishing well, it is so important to remember this lesson. In the last months or years of your life, the likelihood is that you will not be able to do everything yourself.   While many people have family come in and help them, like Robby talks about doing with his father, sometimes it is the better option to receive professional help. This is where long-term care insurance comes in.   Hans discusses putting his mother in a home and how helpful that was to not only her, but her family. It is hard to surrender and accept that you might need help, but once you do this, you can find the best solution for you and your loved ones.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

You hear many people quote Philippians 4:13 “I can do all this through him who gives me strength.” It is more rare that you hear what comes right before us, Philippians 4:12” I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want.” Christ has given Paul contentment. Contentment is a big issue when it comes to red and green money. Paul might have said he knew what it is to be content with green money. With green money you know what it is going to do, you know it is going to be there, like Social Security or a CD at the bank. Hans and Robby also discuss what red and yellow money is. It is important to recognize that in retirement, it is time to stop saving and earning money, but to start planning how you are going to be spending it, in the most efficient way. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Luke chapter 12 says “But God said to him, ‘You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself? This is how it will be with whoever stores up things for themselves but is not rich toward God.”   Estate planning, or taking care of your family, is part of the scripture. So what is the best way to do this before you die?   The first step in estate planning is making sure you have all the proper estate documents set up and updated, such as a Will. Hans and Robby discuss people from all walks of life who have died without doing this for their family, including Aretha Franklin and Prince.   Hans and Robby then discuss life insurance, and how it truly helps your family when you need it the most. When talking about the victims of 9/11, over half of the victims had no Will and over half had no life insurance.   What Hans really wants to do is break this stuff down so that it is not so intimidating to tackle, and you can save your family the stress and sadness of having to deal with it when you are gone. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

An urban legend is an often lurid story or anecdote that is based on hearsay and widely circulated as true. This week, continuing with the theme of urban legends, Hans and Robby discuss IRAS.   Should you wait until 70 ½ to take out any Required Minimum Distributions? Doesn't this mean you pay less taxes?   Does your Last Will and Testament drive IRA distributions at your death?   Listen and find out if what you’ve heard is true!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

There are many misconceptions about Social Security out there. Hans and Robby break down a few of those this episode, including: Are Congress and the President  spending the Social Security Trust Fund on things other than Social Security checks? Will Social Security not pay me because they run out of money?   Get the answers to these questions and more in this week's episode!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

This week Hans and Robby answer questions about all the urban legends related to Medicare including: Is the donut hole important? What are all the Parts and how do they work together? When do you sign up for Medicare if you are still working? What about a Medicare Supplement? How much does it cost? How many parts are there? What is extra help? What is better, Medicare Supplement or Medicare Advantage?   A lot of questions are answered this week, listen in to make sure you know all the answers! Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Jeremiah 6:16  says “ This is what the Lord says: ‘Stand at the crossroads and look; ask for the ancient paths, ask where the good way is, and walk in it, and you will find rest for your souls.’” A lot of people planning for long-term care don’t ask where the good way is. This week, Hans and Robby discuss misconceptions, or urban legends, surrounding how Medicaid pays for long-term care. While Medicaid will pay for long-term care, it takes a lot to get to this point, and giving away all your money is not going to automatically qualify. Medicaid-paid long-term care can also take away choices from you. You will not be able to choose what facility you are in or even where this facility is located. You could be put hours away from your family. Robby talks about a friend he has who is using Medicaid to pay for long-term care who does not even have access to a phone to talk to his friends and family anymore. A major part of finishing well is having choices - you want to choose where you are going to live, choose the care that you get, how your family gets your money, what food you get to eat, and so much more.Good, sound financial planning, especially surrounding long-term care,  is going to provide you these future choices. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Ecclesiastes 3 says “There is a time for everything, and a season for every activity under the heavens”. Everyone knows about tax season, but it is important to look at your finances and taxes every season, not just in the spring every year.   This week, Hans and Robby discusses more in-depth topics regarding axes, including QCDs, capital gains taxes, itemization, and more. They even answer a listen question on air!     Taxes affect every aspect in retirement. You have to look at all of this in order to finish well. You don’t want to leave your family a huge tax burden when you pass.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

You might be in a different season of your life, you are not completely financially supporting your children and family anymore, but there is still an immediate need for money at your passing. Hans explains why $25,000 is the  minimum amount he recommends to cover these immediate costs. While you have a Will to dictate how your assets are going to be split, the life insurance comes in to pay the bills while your family is working all of this out.   Hans even tells the story of his sister who passed 7 years ago. Even though her brother and father both sold life insurance, she did not have a  policy when she died. Her husband has told Hans many times that while two incomes is great, one income is very different.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

God provided for the Israelites in the dessert with manna so they did not have to worry. Even in retirement, life and bills keep coming, but there is a way to stop this worry. Hans and Robby discuss how annuities can be the solution to this worry.   If you think you are going to live a short life, buy life insurance, if you think you are going to live a long life, buy an annuity. Hans explains investments, returns, and why getting an annuity might be the best decision you can make in retirement.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

The government wants their money, and they are going to get their money, whether it is from you or your heirs. RMDs = Required Minimum Distribution or is it Really Motivated Distribution?   Hans and Robby discuss reasons to take your Really Motivated Distributions early and late this week. One really motivated way involves building up your Social Security benefit. Another really motivated distributions allows you to give to the Church, or other charities, tax free. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

When should you take Social Security? There is a lot of conflicting information out there, but Hans and Robby break down the answer to this question today.  Social Security decisions are irreversible and you don’t want to do something you will regret. Everyone’s situation is different, and it is important to sit down and think through all of your options. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Proverbs 1:20 says  “Wisdom calls out in the streets”.  It is important to seek this wisdom when there is still time, especially surrounding retirement. This week Hans and Robby give wisdom surrounding Medicare and all its Alpha-Bits.     Medicare can be complicated, but it is not that complicated! It is all written out by the government, but the information is hard to decipher. It is also hard to find an unbiased source to explain it. Supplements, parts, plans, and prices; there can be a lot to learn about. Let Hans and Robby do the job!   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Proverbs Chapter 1 Verse 20 says “Wisdom calls aloud outside.” This episode, Hans and Robby will give you some wisdom to help your family. Medicare does not pay for long-term care insurance, it says this in everyone's Social Security Earnings Report. The message of this episode is not just go out and buy long-term care insurance, the message is that long-term care is a part of your entire financial plan. You need to look at your entire financial situation before figuring out what the best long-term care insurance is for you. Hans tells a story about a client was convinced that, instead of long-term care, she would move to Oregon when she needed this care because they allow assisted suicide. Eventually she changed her mind, but find out why she did this in the episode! Hans and Robby also talk about what documents you need to have prepared before you need long-term care to save your family a lot of hassle and stress. Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free! You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.

Most people have more difficulty accepting the possibility of incapacity than they do facing the reality of their own death. The biggest consequences of failing to plan for long-term care are suffered by the family. This episode will dive into the 4 different types of long-term care insurance, how Medicare covers long-term care, and how to get a plan in place for long-term care coverage. To learn more, or get the long-term care chapters of Hans' book "The Complete Cardinal Guide to Planning for and Living in Retirement", visit CardinalGuide.com.     Hans can be contacted at Hans@cardinalguide.com  or 919-535-8261.  

Proverbs 21:20 says: “The wise store up choice food and olive oil, but fools gulp theirs down.” Today, the fools are the people paying taxes unnecessarily. Hans and Robby talk about the new tax bill, Qualified Charitable Distributions, and tithing.   Hans also tells the story of a client who got some bad advice about her IRA’s and how Cardinal helped her correct this, resulting in less tax for her heirs.   Lastly, they discuss IRMAA, or the Income Related Monthly Adjustment Amount. This amount is paid by higher-income Medicare beneficiaries.   Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!   You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.